Agents know better than anyone how tight today’s housing market is, especially in popular vacation destinations. According to the National Association of Realtors’ 2021 Vacation Home Counties Report, vacation home sales rose by 16.4% in 2020, and are up 57.2% year over year during the first quarter of 2021. While soaring demand is great for agents, it makes finding fresh inventory a challenge. That’s where Pacaso co-ownership comes in, offering new opportunities for both you and your clients.
The opportunity to maximize inventory 8x
Pacaso creates more buy-side sales opportunities for agents. You can potentially sell the same Pacaso to as many as eight buyers — and receive 3% commission on each of those sales, no matter where your buyer or the home is located. “Not only can you sell Pacaso the house, you can then sell it up to eight times to the individual buyers,” says Los Angeles agent Josh Altman of The Altman Brothers real estate. “You get commission on the sale of all those shares. Pacaso looks out for the agent and makes sure they get paid what they deserve.”
The opportunity to sell more for less
Second home buyers with mid-tier budgets are among the first to be locked out of competitive markets because they are competing with local buyers for homes in that range. With Pacaso, agents have a new option for clients who have been outbid or priced out of the market. Co-owning a more expensive second home frees up more mid-tier homes for local residents and gives Pacaso owners a right-sized owner experience. For Brandi Pratt, a Pacaso Ambassador agent in Palm Springs, co-ownership is the perfect offering for buyers who crave luxury that they couldn’t afford otherwise. “I tell them, ‘Listen, you can be in that $5 million estate for less,’ and that’s quite desirable, because they can say, ‘I do have a second home that’s $5 million, but I bought it for a portion of that.’”
The opportunity for additive sales — and stock
Agents can generate additive sales by helping buyers who thought a luxury second home was out of reach, or who’ve been on the fence because they couldn’t justify the cost of a home they’d only use a few weeks each year. Presenting Pacaso’s offering can help you turn these unlikely buyers into happy second home owners.And to sweeten your 3% commission, Pacaso is giving stock for every closed buy-side sale. Our Referral Equity Program grants agents 500 restricted stock units for each closed buyer referral. Opportunity really is knocking!
‘The sky’s the limit’: Malibu advisor shares how second home co-ownership offers new possibilities